Archive for the ‘Coldwell Banker Real Estate’ Tag

Kitchen remodels. The value of your home – and adding value to it.   Leave a comment

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(This week: Guest writer Michelle Portesi of Much Ado with Nothing)

During the holidays I stumbled upon this very informative article on kitchen remodeling:

http://homes.yahoo.com/news/trendy-kitchen-projects-003034093.html

As a designer that specializes in remodeling, and specifically kitchen and bath design, it is by far one of the better written pieces aimed towards your average homeowner that I’ve read – with some caveats. It also got me thinking about the information as it pertains to the Tahoe real estate market…both as a seller and a buyer. From the article:

“consider what’s best for your finances, family, and future…classify improvements into two categories: One being projects that add monetary value to the house, the others make the house more appealing,” … “For example, a larger kitchen will increase the actual value of the house, whereas granite countertops are going to make the house more appealing to buyers.”

 

Obviously the first question that needs to be asked is whether you are a seller or a buyer, as your intentions, and the spending budget and scope of any remodeling you will be doing is vastly different for the same property.  Today I am going to focus on the seller.

As the seller of an average home, your intention, if the kitchen is old and dated, is to make it appear less so.  This preferably involves cosmetic changes that gives the place a bit of an updated ‘facelift’ without spending a lot of money on it.  Certainly as a seller, the materials selection are different as well as the budget for such a project – as opposed to a home YOU personally intend to live in for awhile.

Before photo. Old cabinets with worn out finish, chipped and dated laminate countertop.

Inexpensive kitchen facelift. Cabinets painted white, new hardware, stock white tile, 4 glass doors, wallpaper, clearance faucet and stock home center sink.

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As the phrase goes “Men buy a house. Women buy a home”.  I’ve heard tales time and again from house hunters describing properties for sale that were spectacular in every way…until the wife hits the kitchen, took one look and quickly turned on her heal and sprinted out the door with not so much as a backwards glance.  As a seller, the last impression you want to leave on a potential homebuyer is that the first order of business should they purchase your property will be a complete and total, expensive and tedious gut of the entire kitchen just to make it tolerable.  But nor do you want to be the one to do the expensive gut just to sell the house. In today’s real estate market, it’s a given that if you spend a lot of money updating property you intend to sell in the near future, that you probably won’t be getting your investment back out of it. It may sell the home quicker, but you will run the real risk of taking a monetary loss. So the amount of money spent on an update to a house going on the market should always be cautious at best. (Unless it’s an old lakefront for which spending $100,000 would bring a return on investment of a cool million…in which case, all bets are off…)

The article lays out 6 different kitchen projects that can ratchet up the appeal and/or value factor to a kitchen.  The following are suggestions as to how a home seller can adapt the article’s design principles to appeal to a home buyer without breaking the bank.

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 Project #1: Cabinet Replacement or Refacing

If you’re a home seller, this option comes more under the category of ‘fuhgeddaboudit’.  Both new cabinetry and refacing will require a healthy chunk of change that would be more appropriate for the home buyer to be investing in. That being said, there are inexpensive things you can do to spruce up tired and outdated cabinetry to be more appealing.

  1.  Start with a good cleaning. Most kitchens build up a phenomenal amount of grease and grime over the years, and tackling the inevitable buildup will at the very least give a home buyer the impression of cleanliness if nothing else. After you’ve cut down on the crud factor, you now have a clean canvas to start with to consider some other options.
  2. Stain.  I’m a big fan of the Zar family of products. With a ‘two-fer’ of stain and sealer combined, it’s just the ticket to add a nice sheen and freshen up the finish on old, scratched cabinetry.  You can also use the same product to ‘glaze’ your cabinets, which is applying more stain to the creases and crevasses of the cabinet doors and drawers, wiping it off gently, allowing the excess to linger in the depressions. A basic cabinet door will have more visual interest and definition by doing this –  or you can also use this technique to create an old world look.  Realize this IS a temporary, cosmetic fix. You will be staining the existing finish, not the wood itself. It is not intended to hold up for long term use, although a coat of varnish over it would make it longer lasting. Remember, you’re not aiming for new cabinet perfection here. You’re just trying to make the kitchen seem freshened up to a potential buyer, not remodeling it for them.
  3. Paint. It’s a wonderful and inexpensive way to salvage run down cabinets that have been abused beyond all redemption. At least any redemption that can be fixed with stain. Consider sage greens, antiqued black or brick red for an updated mountain feel. Glazed and painted cabinetry are popular (and more expensive) options in most manufactured cabinetry lines. If you have any DIY abilities whatsoever, you can mimic the look on your old cabinets for pennies on the dollar compared to new cabinets. And never underestimate the power of a fresh coat of paint and color on your walls. Sand beiges are still appealing neutral colors while adding a touch of  elegance. Boring (and often dirty) white walls just makes the  house you would like to sell for a pretty penny look like a low rent apartment.
  4. Add decorative cabinet door and drawer hardware. Those of us in the trade call this ‘Jewelry for your cabinets’. Not only does it add some zip to an otherwise boring cabinet, it also protects the cabinetry finish from the oil on your fingers, which builds up over time. (Remember all the scrubbing you had to do on #1 above? That’s why.)

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Getting ready for Snowfest!   Leave a comment

P1010278The first week of March in the Tahoe-Truckee area means Snowfest! Ten days of fun events including ski races, eating contests and of course a few home town parades, make Snowfest a fun time to experience Tahoe.

Here are a few event favorites to look for:

March 1st-The Grand Opening ceremony at Squaw Valley includes the coronation of the Snowfest Queen, a Laser light show, fireworks and torch light skier parade down the slopes of Squaw. Speaking of the Snowfest Queen competition, the contest is based on an interview, resume, and who can sell the most Snowfest Raffle Tickets. The proceeds from raffle ticket sales are split between the Snowfest organization and a worthy non-profit that the girls are supporting. The contest winner gets a scholarship, so please buy tickets to help a hard working girl and our local community.

March 2nd and 9th-The Parades. The first, is in Tahoe City on March 2nd and then the following weekend on March 9th Kings Beach puts on their show. Look for kids marching, fire trucks wailing, Snowfest Queen and court waving, Old Man winter, and plenty of fun home town kitschy touches.

March 2nd-Garwoods Polar Bear Swim. After the Tahoe City parade, a few hearty folks swim all the way to the end of the Garwoods pier in water that can only be described as really, really cold. Hopefully the chill is lessened by the crowds of people cheering them on, or the alcohol they consumed before entering the water.

New this year, Sugar Bowl is hosting the Jack London Commemorative Sierra Sled Dog Derby on March 3rd and 4th. The event attempts to capture the classic sled dog races of old.

At Snowfest there are lots of fun events happening every day. Check out the choices at
http://www.tahoesnowfestival.com, or call 530-583-7167.

2012 Tahoe-Truckee Real Estate Summary: The Times they are a changin’   Leave a comment

photo

A quiet ski at Donner Lake

  

There are lots of statistics to analyze what happened in the Tahoe-Truckee Real Estate Market last year but these are the most important:

The last time we saw a year with this many real estate sales in the Truckee-Tahoe area was 2004.

There were 16% more sales in 2012 than in 2011.

The median real estate sales price went up 1.5% last year from $399,000 in 2011 to $405,000 in 2012.

The average price went up 12% last year from $535,460 in 2011 to $600,806 in 2012. Much of this increase was due to a whopping 32% increase in the sale of properties over $1,000,000 in 2012.  On the other end of the market, there were also fewer distressed sales (REO’s or short sales).

The end of the year inventory of homes on the market was down 29% from a year ago.

What does it mean: Finally, after the market has taken it in the shorts for a few years, sales are increasing and prices are beginning to increase. There is an old saying about the real estate market. You never know when you’ve reached the bottom of a downturn until it has already started going back up. Guess what, it has started going back up. But there are still great values out there and interest rates are fabulous.

Interested in what is going on your neck of the woods? Let me know, I can give you the latest sales information for your specific area.   If you want to look at the numbers please click on the  “market stats”  line above my photo.

UnofficialAlpine.com

For Alpine Meadows Skiers & Riders

YOUR FRIEND IN HIGH PLACES

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

Lifestyles of the Kitchen Famous

Kitchens . Baths . Interiors . Design . By Michelle Portesi

Tahoe Truckee Outdoor

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

Outside Inn

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

Much Ado with Nothing

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

Eat Picks

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee

便利に安全に利用できる出張買取!時計を高く売るための方法

Lynn Richardson . Coldwell Banker Real Estate . Lake Tahoe & Truckee